Lowe’s Companies (NYSE:LOW) Posts Earnings Results, Beats Expectations By $0.14 EPS

Lowe’s Companies (NYSE:LOW) issued its earnings results on Tuesday. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14, RTT News reports. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Lowe’s Companies updated its FY 2024 guidance to 11.700-11.900 EPS and its FY25 guidance to $11.70-11.90 EPS.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded down $1.33 during midday trading on Thursday, hitting $241.04. 367,339 shares of the company’s stock traded hands, compared to its average volume of 2,526,737. The firm has a fifty day moving average of $231.18 and a 200 day moving average of $232.26. The stock has a market capitalization of $137.35 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday. UBS Group increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $252.96.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.